NorthBridge Partners
Update
04/11/24
NorthBridge raises nearly $950 million for NB Partners Fund IV, surpassing $800 million target
Boston-based NorthBridge Partners and New York-based Park Madison Partners have announced the final close of NB Partners Fund IV, LP (“Fund IV”). Fund IV was oversubscribed with nearly $950MM raised, including both limited partner and general partner commitments, surpassing the original $800MM fundraising target. Fund IV’s limited partners include a diverse mix of public and private pensions, endowments and foundations, insurance companies, sovereign wealth funds, asset managers, family offices, and high net worth individuals.
NorthBridge launched its value-add logistics strategy in 2014 with the goal of acquiring, modernizing, and developing small-to-mid sized infill logistics assets in select coastal U.S. markets. Fund IV targets markets that benefit from high population density, significant port activity or clusters of advanced manufacturing that benefit from reshoring trends.
“We are extremely grateful for the support and confidence from both existing and new investors in Fund IV. We believe that the combination of strong secular tailwinds for infill industrial real estate set against a backdrop of dislocated capital markets make for a particularly favorable investment environment,” said Greg Lauze, Managing Partner, and Chief Investment Officer of NorthBridge.
“We would also like to thank the entire NorthBridge and Park Madison teams, who worked hard to make this a successful fundraise in what is an overall tough fundraising market for real estate,” said Dean Atkins, Managing Partner, and General Counsel of NorthBridge.
“In our business we see a lot of real estate sponsors, and NorthBridge is truly best-in-class. They identified an attractive market niche and over the past decade have built a specialized vertical platform to capitalize on it,” said Park Madison Partners’ Rob Kohn. “We appreciate the opportunity to be a long-term partner in the success of such a high quality and talented team.”
